- US Dollar | December 9, 2015
Russia has plans to raise $1 billion in government debt next year with bonds denominated in Chinese renminbi. Not the US dollar! Uh-Oh. the de-dollarization is taking off. So what if Russia denominates their bonds (that used to be issued in dollars) in renminbi & vice versa with Chinese issued bonds? This eliminates the need to hold large sums of dollar reserves.